Germany will start the privatization process of the Russian gas group's confiscated subsidiary.

In 2022, after Russia took military action against Ukraine, the German government confiscated the German subsidiary of Gazprom, Russia's natural gas industry company. Now, this subsidiary is about to take the first step towards privatization. According to reports, the German subsidiary of Gazprom, SEFE Securing Energy for Europe GmbH, plans to raise 1.5 to 2 billion euros through capital increase.